Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
There was a slight increase in the cases of corona in the country for the third consecutive day o
Terrorists opened fire on high school teacher Rajni Bala in the Gopalpora area of Kulgam. 3
Confusion continues in the capital Delhi regarding the Mahaparv Chhath. The Delhi government has
Monsoon has knocked in many states of the country. There was a dust storm in Delhi-NCR on Thursda
This is very worrying news. In the country, 1.15 lakh new infections have been detected in a sing
Reliance Jio service is down in the Mumbai circle. Due to this, the mobile and internet service o
If the phone is stolen, then track it, know this easy and extremely useful trick
Often incidents of mobile theft occur. There are many problems faced when mobile is stolen becaus
Maharashtra: MNS rally against traders' protest, police detain activists
In response to the protest by traders against the slapping of a food stall owner in Maharashtra,
The first match of the second doubleheader of the IPL 2021 season is being played between Punjab
BSEB Bihar Board 10th Result 2022: More than 16 lakh students who appeared in Bihar Board's 10th
